Courier Capital LLC Grows Holdings in International Business Machines Co. (NYSE:IBM)

Courier Capital LLC raised its position in International Business Machines Co. (NYSE:IBM) by 3.4% during the third quarter, Holdings Channel.com reports. The firm owned 49,452 shares of the technology company’s stock after buying an additional 1,630 shares during the period. Courier Capital LLC’s holdings in International Business Machines were worth $10,933,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IBM. Litman Gregory Wealth Management LLC purchased a new position in shares of International Business Machines during the 3rd quarter worth about $397,000. Rebalance LLC lifted its holdings in shares of International Business Machines by 18.7% during the 3rd quarter. Rebalance LLC now owns 1,875 shares of the technology company’s stock worth $415,000 after acquiring an additional 296 shares during the period. TFG Advisers LLC lifted its holdings in shares of International Business Machines by 7.5% during the 3rd quarter. TFG Advisers LLC now owns 10,794 shares of the technology company’s stock worth $2,386,000 after acquiring an additional 751 shares during the period. Asset Allocation & Management Company LLC purchased a new position in shares of International Business Machines during the 3rd quarter worth about $200,000. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in shares of International Business Machines by 173.6% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 208,554 shares of the technology company’s stock worth $46,107,000 after acquiring an additional 132,341 shares during the period. 58.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Morgan Stanley increased their price objective on shares of International Business Machines from $182.00 to $217.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. The Goldman Sachs Group lifted their price target on shares of International Business Machines from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Monday, September 30th. DZ Bank cut shares of International Business Machines from a “buy” rating to a “hold” rating and set a $215.00 price target on the stock. in a research report on Wednesday, October 2nd. BMO Capital Markets lifted their price target on shares of International Business Machines from $190.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, July 25th. Finally, UBS Group lifted their price target on shares of International Business Machines from $130.00 to $145.00 and gave the company a “sell” rating in a research report on Wednesday, September 4th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $205.71.

International Business Machines Stock Up 0.3 %

Shares of NYSE:IBM traded up $0.63 during midday trading on Wednesday, reaching $232.88. The company had a trading volume of 1,540,162 shares, compared to its average volume of 4,170,630. The company has a debt-to-equity ratio of 2.20, a current ratio of 1.12 and a quick ratio of 1.08. The stock’s fifty day moving average price is $213.86 and its 200-day moving average price is $189.75. The stock has a market capitalization of $213.92 billion, a P/E ratio of 26.36, a PEG ratio of 5.21 and a beta of 0.70. International Business Machines Co. has a one year low of $136.05 and a one year high of $237.37.

International Business Machines (NYSE:IBM) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.16 by $0.27. The business had revenue of $15.77 billion during the quarter, compared to analyst estimates of $15.62 billion. International Business Machines had a net margin of 13.52% and a return on equity of 40.59%. The business’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.18 earnings per share. Equities research analysts expect that International Business Machines Co. will post 10.1 earnings per share for the current fiscal year.

International Business Machines Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Friday, August 9th were paid a $1.67 dividend. The ex-dividend date was Friday, August 9th. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.87%. International Business Machines’s dividend payout ratio (DPR) is presently 75.65%.

International Business Machines Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.